Account Executive(TDS/TCS Compliances)

Job Description:

Working closely with business and finance teams to ensure timely TDS compliances, support in TDS issues’ resolution and ensuring end-to-end control with respect to TDS/ TCS transactions incl. foreign remittances

Review and reconciliation of TDS/ TCS Liability with GL, trend analysis of the TDS / TCS payments and reasons for variances, ensuring the reconciling differences are resolved by close coordination/ collaboration with the relevant stakeholders
Review/ Preparation, Reconciliation and ensuring timely filing of TDS / TCS Returns (26Q, 27Q) after due validation and ensuring proper discussion, review and sign-off of the Senior Manager/ Manager Taxation
Solving queries raised by vendors in relation to TDS mismatch by closely working with the relevant stakeholders engaged in the process.

Ensuring end-to-end control with respect to all TDS / TCS compliances and being accountable to Senior Manager, Manager Taxation
Working closely with the relevant teams/ stakeholders of X Ltd to guide and verification of the documents required for TDS compliances, including TRC, 10F and No PE Declaration, Determination of TDS percentage to be deducted on the basis of documents received, Further analysis of TDS percentage to be deducted on the basis of Income Tax Act or Treaty, Issuance of Form 15CA-CB. Ensuring end-to-end repository of documents and Form 15CA/ 15CB in relation to the foreign remittances
Tracker updation, internal audit requirement, Query solving on mail received from different teams etc.
Ensuring Reconciliation and Control over 206(1H) and 194Q
Follow-up with Dept and Consultant for Refund and Settling of past Litigation matters.
Reply to Notices received from TRACES and other Govt Portal. Also to track new notices received from IT Portal.
Preparation of tax audit schedules w.r.t. TDS/ TCS provisions of the Income-tax Act, 1961
Ensuring resolution of open traces demands and ensuring no new demands arise upon filing of quarterly TDS/ TCS returns. If such situation arises, the said demands are closely monitored and by working closely with the relevant stakeholders, the said demands should be resolved pro-actively within a reasonable time-frame
Monitoring unpaid TDS/ TCS payment challan status and working closely with the relevant stakeholders for utilization thereof
Assistance to the Tax manager with implementation of TDS/ TCS changes in ERP used, monitor changes in the tax law and keep the Tax Manager informed.

Educational Details: CA Inter

City: Mumbai

State: Maharashtra

PostalCode: 400005

Occupational Category: Accountant

Recruiter: Eliazar Ekka - +91-8192855316

Qualifications:

Inter-CA with extensive experience in TDS/ TCS matters or a CA with 2-3 years of experience keen in supporting the Direct Tax Lead

Created Date: 13-03-2023

Desired Skills:

The resource should have effective communication skills, possess skills like stakeholder management and is able to collaborate effectively with 3P service providers engaged in transaction posting.

Responsibilities:

Working closely with business and finance teams to ensure timely TDS compliances, support in TDS issues’ resolution and ensuring end-to-end control with respect to TDS/ TCS transactions incl. foreign remittances

Review and reconciliation of TDS/ TCS Liability with GL, trend analysis of the TDS / TCS payments and reasons for variances, ensuring the reconciling differences are resolved by close coordination/ collaboration with the relevant stakeholders
Review/ Preparation, Reconciliation and ensuring timely filing of TDS / TCS Returns (26Q, 27Q) after due validation and ensuring proper discussion, review and sign-off of the Senior Manager/ Manager Taxation
Solving queries raised by vendors in relation to TDS mismatch by closely working with the relevant stakeholders engaged in the process.

Ensuring end-to-end control with respect to all TDS / TCS compliances and being accountable to Senior Manager, Manager Taxation
Working closely with the relevant teams/ stakeholders of X Ltd to guide and verification of the documents required for TDS compliances, including TRC, 10F and No PE Declaration, Determination of TDS percentage to be deducted on the basis of documents received, Further analysis of TDS percentage to be deducted on the basis of Income Tax Act or Treaty, Issuance of Form 15CA-CB. Ensuring end-to-end repository of documents and Form 15CA/ 15CB in relation to the foreign remittances
Tracker updation, internal audit requirement, Query solving on mail received from different teams etc.
Ensuring Reconciliation and Control over 206(1H) and 194Q
Follow-up with Dept and Consultant for Refund and Settling of past Litigation matters.
Reply to Notices received from TRACES and other Govt Portal. Also to track new notices received from IT Portal.
Preparation of tax audit schedules w.r.t. TDS/ TCS provisions of the Income-tax Act, 1961
Ensuring resolution of open traces demands and ensuring no new demands arise upon filing of quarterly TDS/ TCS returns. If such situation arises, the said demands are closely monitored and by working closely with the relevant stakeholders, the said demands should be resolved pro-actively within a reasonable time-frame
Monitoring unpaid TDS/ TCS payment challan status and working closely with the relevant stakeholders for utilization thereof
Assistance to the Tax manager with implementation of TDS/ TCS changes in ERP used, monitor changes in the tax law and keep the Tax Manager informed.

Collating Assessment details and assisting in online Assessment submission.

Experience Requirements:Working closely with business and finance teams to ensure timely TDS compliances, support in TDS issues’ resolution and ensuring end-to-end control with respect to TDS/ TCS transactions incl. foreign remittances Review and reconciliation of TDS/ TCS Liability with GL, trend analysis of the TDS / TCS payments and reasons for variances, ensuring the reconciling differences are resolved by close coordination/ collaboration with the relevant stakeholdersReview/ Preparation, Reconciliation and ensuring timely filing of TDS / TCS Returns (26Q, 27Q) after due validation and ensuring proper discussion, review and sign-off of the Senior Manager/ Manager TaxationSolving queries raised by vendors in relation to TDS mismatch by closely working with the relevant stakeholders engaged in the process. Ensuring end-to-end control with respect to all TDS / TCS compliances and being accountable to Senior Manager, Manager TaxationWorking closely with the relevant teams/ stakeholders of X Ltd to guide and verification of the documents required for TDS compliances, including TRC, 10F and No PE Declaration, Determination of TDS percentage to be deducted on the basis of documents received, Further analysis of TDS percentage to be deducted on the basis of Income Tax Act or Treaty, Issuance of Form 15CA-CB. Ensuring end-to-end repository of documents and Form 15CA/ 15CB in relation to the foreign remittancesTracker updation, internal audit requirement, Query solving on mail received from different teams etc.Ensuring Reconciliation and Control over 206(1H) and 194QFollow-up with Dept and Consultant for Refund and Settling of past Litigation matters.Reply to Notices received from TRACES and other Govt Portal. Also to track new notices received from IT Portal.Preparation of tax audit schedules w.r.t. TDS/ TCS provisions of the Income-tax Act, 1961Ensuring resolution of open traces demands and ensuring no new demands arise upon filing of quarterly TDS/ TCS returns. If such situation arises, the said demands are closely monitored and by working closely with the relevant stakeholders, the said demands should be resolved pro-actively within a reasonable time-frameMonitoring unpaid TDS/ TCS payment challan status and working closely with the relevant stakeholders for utilization thereofAssistance to the Tax manager with implementation of TDS/ TCS changes in ERP, monitor changes in the tax law and keep the Tax Manager informed. Collating Assessment details and assisting in online Assessment submission.